Unemployment is low in places that were and were not impacted by hurricanes. It has been low for quite some time all across the state.
They would like to raise rates, but right now, keeping rates a little too low would cause the least harm in the economy. If they raise rates after this weak employment report, people will be hollering. George Bush would be hollering the loudest.
The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.
It's truly amazing unemployment has gotten this low in Florida when the population is growing as fast as it is.
It really depends on when you get the flat curve. Right now with the low rates, I don't see dire implications from a flattening yield curve. It just is accurately indicating that the economy is slowly or moderating.